Jakarta. Jakarta Composite Index (JCI) opened lower on Friday, slipping 25.34 points, or 0.31%, to 8,240 as investors turned cautious ahead of a long weekend and weakening global sentiment.

The benchmark index moved within a range of 8,198 to 8,241 in early trading. Data from RTI showed 1.44 billion shares changing hands with a turnover of Rp 761.23 billion ($45.21 million) across 115,714 transactions. Decliners outnumbered gainers, with 293 stocks falling, 162 advancing, and 200 unchanged.

Phintraco Sekuritas warned the JCI could extend losses after a three-day rally ended in profit-taking ahead of the holiday. The brokerage expects the index to test the 8,150–8,200 range, citing weaker global equities and falling commodity prices as negative catalysts.

The government is set to hold a discussion on Friday to provide a comprehensive explanation of national economic conditions and policy responses to global developments. Authorities hope the meeting will address market concerns following Moody’s Ratings’ decision to revise Indonesia’s credit outlook from stable to negative, according to Phintraco.

Globally, investors are watching US January inflation data, which consensus forecasts place at 2.5% year-on-year, easing from 2.7% in December. Core inflation is also expected to slow to 2.5% from 2.6%. The data carries added weight after stronger-than-expected US nonfarm payrolls raised the possibility that the Federal Reserve may keep interest rates higher for longer.

US stocks fell on Thursday as concerns grew over whether heavy corporate spending on artificial intelligence will translate into sufficient profits. The S&P 500 dropped 1.1%, the Dow Jones Industrial Average declined 0.9%, and the Nasdaq Composite slid 1.7%, led by weakness in technology shares.

Asian markets also traded lower. Japan’s Nikkei fell 0.77% to 57,197, South Korea’s Kospi edged down 0.16% to 5,513, Hong Kong’s Hang Seng dropped 1.4% to 26,640, and China’s Shanghai Composite slipped 0.46% to 4,115.

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